Foreign News: Big Business at Basle

A banker must have a spade beard; it gives the public confidence.
French Axiom.

M. Pierre Quesnay is the enfant terrible of the sedate Bank of France.
He is only 35. He refuses to grow a beard. Among his hirsute colleagues
the rise of this "boy" is considered almost a scandal. In Basle,
Switzerland, last week the august board of the new Bank for
International Settlements (B. I. S.), formed as "The Cash Register of
German Reparations" (TIME, March 25, 1929, et seq.), solemnly met and
all but unanimously elected Beardless Pierre Quesnay...